Hyperliquid HIP-3 Data: SKHX Contract Accounts for Approximately 50% of Stock Perpetual Contract Trading Volume

On-chain data analysis shows that on the Hyperliquid HIP-3 platform, the SK Hynix (SKHX) perpetual contract currently accounts for approximately 33% of all HIP-3 trading volume, while also accounting for about 50% of the total trading volume of stock perpetual contracts, making it the single contract with the highest trading volume in this category. SKHX is a tokenized stock perpetual contract deployed by a builder via the HIP-3 mechanism, corresponding to the stock price of SK Hynix, South Korea. SK Hynix has long been listed on the Korean main board and is scheduled to complete its U.S. ADR (Nasdaq: SKHY) listing around July 10, 2026. HIP-3 allows eligible builders to stake HYPE and then permissionlessly deploy perpetual markets, enabling traders to trade related assets with leverage on the platform 24/7. This is also the context behind the original post author @0xNairolf's joke that "people really want to trade it before they are truly allowed to trade it"—namely, achieving relatively barrier-free trading through decentralized rails. The data is sourced from Hyperliquid official HIP-3 dashboard screenshots and verified by on-chain tracking sites; recently, SKHX's single-day trading volume has reached the hundreds of millions of U.S. dollars level multiple times.